Pip value

0.01 lot = $0.1/pip, hence for 10 pips = $1

0.10 lot = $1/pip, hence for 10 pips = $10

1.00 lot = $ 10/pip, hence for 10 pips = $100

To calculate the lot size:

Lot size = % employed capital / (pips x $10)

Eg: Employed capital = $1,000

2% of employed capital $1,000 = $20

Lot size = $20 / (10 pips x $10)

= 0.2 lots